Quote:
Originally Posted by OrangeBlossomBaby
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If there is a bond, the current owner is responsible for paying it monthly, OR paying it off in full. You can't make "extra payments" or skip a month or get it deferred. The point is that the investor (in this case the Developer) gets all that juicy interest on each property for 30 years (or less if someone pays it off early).
NOT paying off the bond early means you're just basically giving the developer extra money. Buying a home with a bond already paid off, or one that never had a bond in the first place, means the home is 100% yours, and no one else has any financial interest in it.
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Missinformation... Maybe watch the GoldWingnut videos and pay attention.
As has been stated many times, Bonds are sold to banks and investors.
The Developer makes nothing off the bonds. The funds were used to build the amenities.